Apart from Admiral anyone had a covid reduction in insurance

Apart from Admiral anyone had a covid reduction in insurance

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twokcc

Original Poster:

832 posts

178 months

Monday 18th May 2020
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FCA now asking icar nsures to look ar reducing car insurance premiums

From saturday's Times

One of the key things insurers are being asked to do is examine whether they can offer lower premiums to customers because they are now a lower risk, for example on motor insurance, where customers may be driving many fewer miles than before.

AA certainly aren't looking at this renewed on !1th April sat on drive since unused and likely to stay like this. Say they will look into at renewal time.

Anyone had any success at getting a reduction or been offered a significant renewal quote since covid lockdown

twokcc

Original Poster:

832 posts

178 months

Saturday 23rd May 2020
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Knoxville2410 said:
I spoke to BMW insurance on live chat, they advised that because they don't charge any admin fees for amending/cancelling policies, they won't offer any refunds. They then offered to reduce my mileage if I wasn't using it.

Seems like a bit of a cop out!
Same response for me with Mini (same BMW insurance) car done less than 100 miles since end of February, policy renews new week. Advisor rang me to ask if renewing said car hardy being used reducing mileage hardy made any difference-suggested try 400 miles p.a. response was that this would put insurance up because I driving experience minimal despite me advising him that would be using another car.He did run thro all the benefits of the policy and surprisingly it does include key cover, courtesy car and various other items than can be add ons wth other insurers. Also excess was lot less than that got on quotes from comparison sites, increase this by £200 (total £350) and premium reduced by £40. Left for time being but decent quote compared to ones on comparison sites. They also hold price until AA and Saga who advise quote only valid for 24hrs and then bump it up significantly when you go back to them.
Making very slow progress with AA on 2nd car but not got definite answer its like pulling teeth.
Apparently car insurers will save £1 billion from reduced claims but looks as if they all trying to hang onto it.

twokcc

Original Poster:

832 posts

178 months

Tuesday 26th May 2020
quotequote all
Renewed Mini insurance with BMW but suggested I might sorn it, surprisingly BMW/Mini insurance does not cover SORNed vehicles and I was advised that I would have to cancel policy. Didn't expect that. So increased years mileage from 3k to 5k and premium went down £3.
Never heard of a policy being invalid if a vehicle is SORNed so if your insured with BMW/Mini just check it - couldn't image what it would be like for car to be stolen and then finding your insurance didn't cover loss- assuming I have been correctly advised